08.31.09 TimelessWealth.net issues technical trading idea with Hampton Roads Bankshares Inc., stock symbol HMPR
($3.04).
Following a two month long downtrend, Monday’s trading session
was the first preeminent sign of reversal Hampton Roads
Bankshares Inc. has seen since peaking at $9.90 in late June.
Strong volume poured in nearer the end of the trading session,
indicating strength in the market and assisting the price past
intraday resistances.
Hampton Roads Bankshares
Inc. (HMPR) exercised signs of reversal which are covered in our
video edition of technical analysis.
We encourage you review this video to understand the basic
signals we use to determine potential reversal candidates.
Hampton Roads Bankshares is a financial holding company that
was formed in 2001 and is headquartered in Norfolk, Virginia. "Our primary
subsidiaries are Bank of Hampton Roads, Shore Bank and Gateway
Bank & Trust Co. We are a full service banking and financial
services organization focused on delivering above average
returns to our shareholders and superior products and service to
our customer base. Through sixty-three office locations, our
banks operate in some of the most dynamic markets in Virginia, North Carolina and Maryland".
On August 19th, 2009 Hampton Roads Bankshares Inc. relieved the market by withdrawing a proposed
public offering of up
to 32,500,000 shares of its common stock. Simply put, the
company chose not to dilute the market. That announcement was
key.
Per their
quarterly report the company had 21,868,924 shares issued and outstanding as of July 31st, 2009. Per
yahoo finance , as well as
shortsqueeze.com the float is 18,460,000 shares, with
1,840,300 shares short, meaning the security is 10% short.
Book value per common share is $7.54, representing a potential
return on investment (ROI) of 148% from Monday’s trading
session’s close ($3.04).
Market Capitalization is
$66,481,529, insignificant for a bank of this proportion. Their
balance sheet reads more cash than their current market cap,
with cash per share value of $3.88. To add,
Hampton Roads
Bankshares Inc. is not on the new FDIC list of problematic
banks.
We strongly encourage you review this trading idea with further
research. Our report is designed to cover key technical and
fundamental concepts while providing a starting point with due
diligence material. Regarding our undervalued investment
opportunity with Wireless Age Communications, Inc. (WLSA), we believe the
month of September will be a breaking point for the company and
will reflect about the security with enhanced shareholder value.
All the best.
Sincerely,
Edward Stevenson.
Timeless Wealth Staff.
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